KeyBanc Upgrades CIRCOR International (CIR) to Overweight
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
KeyBanc upgraded CIRCOR International (NYSE: CIR) from Sector Weight to Overweight with a price target of $58. Analyst James Picariello sees an attractive entry point.
"Since CIR negatively pre-announced its 3Q16 earnings, the stock is down 13% (vs. the S&P 500 -1.2%; XLI -1.9%), despite the Company's recent and highly intriguing acquisition of Critical Flow Solutions. We have been visible proponents of the management team and CIR's internal momentum in improving the margin profile of its businesses against a challenged macro backdrop. Our primary caution had centered on valuation (trading at ~12x EV/ EBITDA since mid-July). Now, with the stock and earnings reset, coupled with a positive acquisition catalyst, we view this as a compelling entry point," said Picariello.
Shares of CIRCOR International closed at $51.94 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cowen Upgrades Dick's Sporting Goods (DKS) to Outperform
- Susquehanna Cuts Price Target on KLA-Tencor (KLAC) Following Strong 1Q
- Moody's Continues Review of Genworth (GNW) Ratings
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesKeyBanc, Standard & Poor's, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!